Capital of the India's southern state of Andhra Pradesh, made famous by the fabled grandeur and wealth of its former rulers, the Nizams of Hyderabad, this historic city has emerged as one of the leading IT hubs in Asia.

Global software firms Oracle, Microsoft, Sun Microsystems, Vanenburg, Wipro multinationals like Toshiba and Baan, and global financial services giant, HSBC group's two global data processing centres, have all established a large presence in the city.

Apart from IT, Hyderabad accounts for nearly a third of India's pharmaceuticals industry, with several contract manufacturers, catering to global pharma and chemicals majors.In addition, several non-IT companies such as, VST Industries and Voith Turbo GmbH subsidiary, Voith India also have their bases in the city.

Klaus Schwab, executive chairman and founder of the World Economic Forum (WEF), recently said that the Vision 2020 goals set by the AP state government were attainable because of the reforms initiatives that have been taken up. He said Andhra Pradesh was a model state that was at the take-off stage. Several investors — foreign and Indian — were interested in investing in the state.